Solida Capital, a real estate investment and asset management firm, part of the Webcor conglomerate, founded by the Lebanese Nesr family, has entered the Romanian market and purchased the Victoria Center office building in Bucharest.
Victoria Center office building in Bucharest has been previously owned by Manova Partners (formerly Macquarie). The building has a total leasable area of 8,600 sq m, distributed over 10 floors, including commercial spaces on the ground floor and 92 parking spaces.
Manova Partners purchased the building in 2015 for one of its multi-investor funds. During its ownership, the building enjoyed a high occupancy rate, being leased to prestigious tenants, many of whom have been in the location since the building was delivered in 2010.
Although the value of the transaction was not made public, estimates indicate that it could amount to 30 million euros.
Solida Capital is an investment and asset management firm with a particular focus on real estate and development projects in key markets in Europe. The company owns several real estate properties in Poland, the UK, Greece, Portugal, the US and Lebanon.
Ali Nehme Nesr left Lebanon for Africa and set up his own textile business in Zaire, now the Democratic Republic of Congo. Today, Webcor has business predominantly in Angola.
Today, the business is run by Wissam Nesr, the founder’s son. The African press has named the Nesr family as one of the most influential Lebanese business families on the continent, with revenues of over a billion dollars.
Solida Capital is part of the Webcor conglomerate, which began its activities in the 1970s in Africa and is today owned by the Lebanese Nesr family.
The buyer was assisted by Kinstellar as lead legal advisor, Colliers for commercial advice, Ernst & Young for financial and tax aspects, and SC Optim Project Management for technical support. The seller was advised by Peli Partners as lead legal advisor, iO for commercial advice, CMS for tax and financial aspects, and Sentient for technical support.
Eeee ok don’t get exited. In Greece, they only have some Villas in Mykonos.